Schengen Visa News

Portugal’s Parliament Refuses to End Golden Visa Programs

The Portuguese Parliament rejected proposals to end or expand the Golden Visa programs following moves by the Bloco de Esquerda, Portuguese Communist Party and PAN (People, Animals and Nature), as well as the Chega Right Party.

According to the authorities in Portugal, Chega has proposed imposing a capital transfer option of €250,000 (currently €1 million) to invest in companies in specific areas such as agriculture, research and development, as well as the tourism environment, reports.

Socialist MP Pedro Anastasio noted in this regard during the discussion in plenary that “the path and time to evaluate a successful legal amendment will preserve the dimensions that exist in the important presence of this golden visa program.”

At the same time, according to the Socialist MP, the party that rejected all these proposals, said that the recent legal change applies to the program or responds adequately to the housing dimension, allowing the program dimension to be preserved.

In this regard, Pedro Anastasio said that the changes made to the Golden Visa Program achieve something not important or essential for the country, which is to encourage productive investment, as well as job creation, investment in urban rehabilitation, and high value. Activities and cultural heritage.

He stressed that “it is necessary to evaluate the effects after the introduction of this change in order to assess whether the required balance has been achieved.”

However, Parliament adopted a motion which is a proposal by the Social Democrats to immediately express the necessary regulations to allow the SEF online portal to accept new applications for the Golden Visa Program in the province again.

Portuguese Golden Visa advisors were not eligible to submit new applications on behalf of their clients in the first six months of this year after the SEF portal was not updated to reflect program changes. According to a notice on the portal, the opening of new orders was not available pending the new regulations.

However, the situation was resolved earlier this week, after a statement published by the Minister of State for the Presidency of the Council of Ministers indicated that the relevant law does not need regulation and can be “directly applied”.

Despite the fact that new golden visa applications may now be submitted, there are still some difficulties for those who need to renew their golden visas after the SEF has not accepted the renewal dates, an issue that still raises many challenges.

Recently, the Portuguese Foreigners and Borders Service (SEF) announced that there was a 94 percent increase in the Portuguese Golden Visa program in May this year, compared to figures for the same period last year, to a total of 53.8 million euros.

The Golden Visa scheme allows citizens of third countries to obtain such a visa, provided that they meet specific requirements and make an investment of a specified amount.

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